Apple Inc is working on its own Mac chips, which could replace the Intel processors currently running on its computers as soon as 2020, according to a report by Bloomberg.

The project, called Kalamata, has been approved by the company's executives but is still in early stages of development and may face a multi-step transition, the report said.

The project would be part of Apple's grand plan of making all of its devices, including Macs, iPhones, and iPads, work more seamlessly together.

In addition, shifting to its own chips would allow Apple to release new Macs on its own timelines, instead of following Intel's processor roadmap, the report said.

Besides the Kalamata project, Apple is also working on a software platform code-named Marzipan, which aims to enable software developers to create apps that would work for both the iOS operating system running on iPhones and iPads and the macOS running on Mac computers, according to the report.

The platform might be introduced to the public as early as this year, with a great chance to be launched at the company's Worldwide Developers Conference in June, the report said.

Apple will report its financial results from the second quarter of this fiscal year May 1, the company announced. Previously, it expected the company's revenue will be between $60 billion to $62 billion but industry analysts predicted its revenue in the quarter will exceed expectations, according to a report by tech.ifeng.com.

In the first fiscal quarter, Apple reported revenue of $88.3 billion with a net profit of $20.1 billion.

Apple's potential shift, which could be potentially abandoned or delayed, has already given Intel Corp a hard hit in the market, as its shares dropped as much as 9.2 percent on the news, Bloomberg reported.

5 percent of Intel's annual revenue is contributed by Apple, according to the report.